MLS Public Remarks Fully rented, never vacant, 5 unit, once in a generation property situated on the shores of Lake Monona in one of Madison's most desirable locations. A short walk to Capitol Square and in the heart of the Marquette neighborhood. Originally the M.H. Sater Apartment Building, this classic American Foursquare was built in 1907. 40 ft of lake frontage, the lot is long and is terraced in the back. The exponential growth potential for net income in 2025 is outstanding! A unique combination of units, comprised of a studio, a 1 bedroom, two, 2 bedroom apartments and a two story 5 bedroom apartment. Several garden plots on the lake and kayak storage. Updates include electrical service for the entire building, new water softener and south side dormer rebuild. This is a special place!
Location City
Other Marketing Area
Mailing City Madison
C/T/V City
Unit #
Directions E Williamson To Paterson To Spaight
Number of Units 5
Year Built 1909
# Furnaces 1
Heating Type Rad Elec
Heating Fuel Nat Gas
# Water Heaters 1
# Water Softeners 1
# Stoves 5
# Refrigerators 5
# Dish Washers 0
# Washers 1
# Dryers 1
# Units w/AC 0
Number of Efficiencies 0
Number of 1 Bedrooms 2
Number of 2 Bedrooms 2
Number of 3+ Bedrooms 1
Total Income 0
Total Expenses 58293
Net Operating Inc 0
Year
School District Madison
High School East
Middle OKeeffe
Elementary Lapham/Marquette
Land Assessment $623,000
Improvements $667,000
Total Assessment $1,290,000
Net Taxes $21,389
Assessment Year 2024
Tax Year 2023
Owner
Zoning HIS_TL
Subdivision
Name of Lake/River Monona
Est. Total Acres 0.17
Source for Est. Total Acres PubR
Unit 1 Range/oven, Refrigerator
Unit 2 Range/oven, Refrigerator
Unit 3 Range/oven, Refrigerator
Unit 4 Family/Rec. room, Master bedroom bath, Range/oven, Refrigerator
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Landlord Pays |
| Unit |
Bedrooms |
Full Baths |
Half Baths |
Lease Expiration Date |
Month Rent |
Fin Sq.Ft |
Parking |
Elec |
Heat |
W/S |
| 1 |
1 |
1 |
0 |
8/14/2025 |
$950 |
0 |
Street |
No |
Yes |
Yes |
| 2 |
2 |
1 |
0 |
8/14/2025 |
$1850 |
0 |
Street |
No |
Yes |
Yes |
| 3 |
1 |
1 |
0 |
8/14/2025 |
$995 |
0 |
Street |
No |
Yes |
Yes |
| 4 |
5 |
2 |
0 |
8/14/2025 |
$2120 |
0 |
Street |
No |
Yes |
Yes |
Items Included 5 Range/Ovens, 5 Refrigerator, Water Softener, All Window Coverings, Washer, Dryer
Items Excluded Seller's and Tenant's personal property
Energy Efficient/Green Features
Water/Waste Municipal sewer, Municipal water
Basement Full, Full Size Windows/Exposed, Other Foundation, Partially finished, Walkout
Type 3 story
Parking per Unit 1 space, Outside
Barrier-free Features First floor bedroom, First floor full bath
Exterior Stucco, Wood
Waterfront Has actual water frontage, Lake
Terms
Utilities Sep elec meters each unit
Legal Documents Income/Exp Report Avail, Lease(s) on file
Miscellaneous Close to bus line, Internet- Fiber available, Water Softener Owned
Above Information Deemed Reliable, But Not Guaranteed
Listing Courtesy of Lauer Realty Group, Inc.
